OPEN-SOURCE SCRIPT
4H Breakaway/Inverse Gap (>=2% gaps, hide after >2 mitigations)
Detects gaps >2% of price on linear scale
Tracks gap “mitigations” = each time price re-enters the gap zone
Deletes/hides the gap midpoint line after the 3rd mitigation
So it will still show when the gap is unfilled (0), entered/mitigated once (1), or mitigated/filled once more (2)
Tracks gap “mitigations” = each time price re-enters the gap zone
Deletes/hides the gap midpoint line after the 3rd mitigation
So it will still show when the gap is unfilled (0), entered/mitigated once (1), or mitigated/filled once more (2)
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.